Title Change and Interim Appointment Stipend Letter Agreement between Dynavax Technologies Corporation and David Novack
Dynavax Technologies Corporation confirms David Novack's new title as Senior Vice President, Operations effective May 20, 2019, and grants him a monthly stipend of $6,500 for his interim appointment to the shared Office of the President starting May 21, 2019. The stipend will be paid monthly for the duration of his interim service and will count toward his 2019 annual bonus calculation. The agreement is signed by the Chair of the Compensation Committee and is intended to formalize these employment changes and compensation terms.
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| Exhibit 10.3 |
| 2929 Seventh Street, Suite 100 |
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| Berkeley, California 94710 |
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HAND DELIVERED
May 30, 2019
David Novack
39 Yorkshire Drive
Oakland, CA 94618
Re: Title Change
Dear David,
This letter confirms your new title of Senior Vice President, Operations effective May 20, 2019.
Best regards,
/s/ Peggy Phillips
Peggy Phillips
Chair, Compensation Committee of the Board of Directors
CC: Personnel file and Payroll
| Phone: 510 ###-###-#### | Toll-Free: 877 ###-###-#### | Fax: 510 ###-###-#### | www.dynavax.com |
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| 2929 Seventh Street, Suite 100 |
|
| Berkeley, California 94710 |
|
HAND DELIVERED
May 30, 2019
David Novack
39 Yorkshire Drive
Oakland, CA 94618
Re: Monthly Stipend for Interim Appointment to The Shared Office of The President
Dear David,
This letter confirms the monthly stipend of $6,500 associated with your interim appointment to the shared Office of the President effective May 21, 2019. The monthly stipend will be paid on the last payroll cycle of each month for each month (including partial months) that you serve in this interim capacity. In addition, the monthly stipend earnings will be included as income in the calculation of your 2019 Annual Bonus award.
On behalf of the Board of Directors, I want to personally thank you for accepting this interim leadership role during this period of transition for Dynavax.
Best regards,
/s/ Peggy Phillips
Peggy Phillips
Chair, Compensation Committee of the Board of Directors
CC: Personnel file and Payroll
| Phone: 510 ###-###-#### | Toll-Free: 877 ###-###-#### | Fax: 510 ###-###-#### | www.dynavax.com |
